BKV Corporation (BKV)
NYSE:BKV
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BKV Corporation
(NYSE:BKV)
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Rating:63Neutral
Price Target:
$27.00
▼(-2.70% Downside)
Action:Reiterated
Date:06/13/26
The score is driven by strong TTM profitability and an attractive P/E, tempered by weak free-cash-flow consistency and bearish technical momentum. Earnings-call commentary is supportive (hedging/liquidity and project pipeline), but elevated near-term power capital needs and execution risk keep the rating from being higher.
Positive Factors
High profitability margins
Sustained high TTM margins and sharply higher revenue support durable earnings power and internal cash generation capacity. Improved ROE (~15%) versus prior loss years indicates recovering profitability that can underpin reinvestment and debt servicing over the medium term.
Negative Factors
Weak free cash flow conversion
Negative and inconsistent free cash flow undermines the company's ability to self-fund growth and service incremental project debt. This elevates reliance on external financing or equity raises to support large power/CCUS investments, increasing execution and refinancing risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability margins
Sustained high TTM margins and sharply higher revenue support durable earnings power and internal cash generation capacity. Improved ROE (~15%) versus prior loss years indicates recovering profitability that can underpin reinvestment and debt servicing over the medium term.
Read all positive factors
BKV Corporation (BKV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.74B
Dividend YieldN/A
Average Volume (3M)782.81K
Price to Earnings (P/E)8.3
Beta (1Y)0.71
Revenue Growth52.41%
EPS GrowthN/A
CountryUS
Employees366
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)3.31
Shares Outstanding109,386,610
10 Day Avg. Volume655,236
30 Day Avg. Volume782,811
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)1.23
Price to Sales (P/S)2.79
P/FCF Ratio-43.51
Enterprise Value/Market Cap1.41
Enterprise Value/Revenue3.78
Enterprise Value/Gross Profit8.02
Enterprise Value/Ebitda6.39
Forecast
1Y Price Target
$34.75Price Target Upside25.23% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)1.66
Revenue Forecast (FY)$1.57B
BKV Corporation Business Overview & Revenue Model
Company Description
BKV Corporation's business encompasses the entire natural gas and natural gas liquids (NGLs) value chain. The company focuses on acquiring, developing, and managing energy-producing assets, and also provides essential midstream services including ...
How the Company Makes Money
BKV primarily makes money by producing and selling natural gas and, where applicable, natural gas liquids (NGLs) from its operated oil and gas properties. Revenue is generated from the sale of produced hydrocarbons to third-party purchasers under ...
BKV Corporation Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 18, 2026
Earnings Call Sentiment Positive
The call communicates strong operational execution in upstream and accelerating commercial and technical progress in carbon capture and power. Key operational metrics (production, advanced completions uplift, CCUS milestones, hedging coverage, and liquidity) are favorable and point to near-term value creation. Offsetting risks include higher near-term strategic power capital, elevated reported power leverage after consolidation, modest current power EBITDA relative to planned investments, and execution/regulatory timing risks tied to PPAs, modular deployments and PUN approvals. On balance, the positives (robust upstream performance, scalable CCUS, clear power commercialization pipeline and solid liquidity/hedge positions) outweigh the challenges, but delivering on PPAs and project financing will be critical to realizing the projected growth outcomes.Positive Updates
Upstream Production at Upper End of Guidance
Q1 production ~925 MMcfe/day, trending toward the upper end of guidance (FY range 915–955 MMcfe/day); development capital ~ $82M in Q1 (slightly below guided midpoint).
Negative Updates
Higher Near-Term Strategic Power Spend
Power growth capital for 2026 increased to $280–$340M (driven by modular equipment deposits and other long-lead items), raising total net BKV-funded capital investments to $485–$635M and increasing short-term funding needs.
Read all updates
Q1-2026 Updates
Positive
Negative
Upstream Production at Upper End of Guidance
Q1 production ~925 MMcfe/day, trending toward the upper end of guidance (FY range 915–955 MMcfe/day); development capital ~ $82M in Q1 (slightly below guided midpoint).
Read all positive updates
Company Guidance
BKV reiterated full‑year base guidance of production of 915–955 MMcfe/d, capital spending of $290–400M and Power JV adjusted EBITDA of $135–175M, while adding expected Power growth capital/investments of $280–340M (partially offset by partner contributions of ~$85–105M) for total net BKV‑funded capital of about $485–635M; the company expects to sign a PPA in 2026–early‑2027, has line of sight to up to ~1.4 GW incremental power (including up to 200 MW of modular capacity, a potential 750 MW PUN and reserved 600 MW CCGT islands, plus another 600 MW reservation for 2028), and currently has 700 MW of power hedged for 2026. Balance‑sheet and risk‑management metrics include net debt $962M (including $562M of Power net debt), net leverage 2.1x, total liquidity $974M, and hedges of 67% of 2026 natural gas production at $3.86/MMBtu, 56% of NGLs at $24.56/bbl and nearly 500 MMcf/d of 2027 gas hedged (over half swapped at $4/MMBtu, remainder collars).BKV Corporation Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.02B | 895.64M | 604.53M | 739.28M | 1.66B | 889.53M |
| Gross Profit | 482.09M | 283.70M | 387.00M | 515.91M | 1.54B | 797.25M |
| EBITDA | 605.19M | 412.01M | 82.18M | 446.59M | 640.00M | -74.02M |
| Net Income | 295.87M | 173.13M | -142.87M | 116.92M | 410.14M | -138.21M |
Balance Sheet | ||||||
| Total Assets | 4.17B | 3.13B | 2.23B | 2.68B | 2.70B | 1.62B |
| Cash, Cash Equivalents and Short-Term Investments | 304.51M | 199.41M | 14.87M | 25.41M | 153.13M | 134.67M |
| Total Debt | 1.27B | 486.78M | 165.00M | 541.66M | 617.04M | 181.41M |
| Total Liabilities | 1.86B | 1.06B | 671.51M | 1.21B | 1.51B | 865.89M |
| Stockholders Equity | 2.21B | 2.04B | 1.56B | 1.42B | 1.13B | 705.10M |
Cash Flow | ||||||
| Free Cash Flow | -198.71M | -57.46M | 17.62M | -69.53M | 101.10M | 289.42M |
| Operating Cash Flow | 292.08M | 242.71M | 118.54M | 123.08M | 349.19M | 358.13M |
| Investing Cash Flow | -724.38M | -564.90M | 36.07M | -177.85M | -865.57M | -161.86M |
| Financing Cash Flow | 656.66M | 506.74M | -304.81M | 66.71M | 534.83M | -79.05M |
BKV Corporation Technical Analysis
Negative
27.75
Price Trends
27.93
Negative
28.75
Negative
26.71
Negative
Market Momentum
-1.02
Positive
29.99
Positive
11.33
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BKV, the sentiment is Negative. The current price of 27.75 is above the 20-day moving average (MA) of 26.76, below the 50-day MA of 27.93, and above the 200-day MA of 26.71, indicating a bearish trend. The MACD of -1.02 indicates Positive momentum. The RSI at 29.99 is Positive, neither overbought nor oversold. The STOCH value of 11.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BKV.
BKV Corporation Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $1.78B | 18.55 | 10.68% | 13.84% | 0.87% | 770.57% | |
68 Neutral | $2.21B | 9.11 | 13.10% | 17.48% | 22.47% | -56.03% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | $2.74B | 8.33 | 15.50% | ― | 52.41% | ― | |
58 Neutral | $3.82B | -12.70 | -6.06% | 5.78% | 18.27% | -67.80% | |
54 Neutral | $2.23B | -5.78 | -295.28% | ― | ― | -96.11% | |
52 Neutral | $2.50B | -3.14 | -33.22% | ― | -15.43% | -3103.48% |
* Energy Sector Average
BKV
BKV Corporation
24.15
-0.29
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MNR
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BKV Corporation Corporate Events
Executive/Board ChangesShareholder Meetings
BKV Shareholders Elect Directors and Ratify Auditor Appointment
Positive
Jun 12, 2026
BKV Corporation held its Annual Meeting of Stockholders on June 11, 2026, where shareholders elected four Class II directors, Akaraphong Dayananda, Thiti Mekavichai, Sunit S. Patel, and Carla Mashinski, to serve on the board until the 2029 annual ...
Business Operations and StrategyPrivate Placements and Financing
BKV Corporation Amends Credit Agreement for Greater Flexibility
Positive
May 22, 2026
On May 20, 2026, BKV Corporation, BKV Upstream Midstream, LLC, and certain subsidiaries entered into a Sixth Amendment to their reserve-based lending credit agreement with Citibank, N.A. and a syndicate of lenders. The amendment raises the maximum...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
BKV Corporation Reports Q1 2026 Results, Expands Power JV
Positive
May 7, 2026
On May 7, 2026, BKV Corporation reported first-quarter 2026 results showing net income of $44.1 million, adjusted net income of $22.4 million, adjusted EBITDAX of $112.0 million, and net cash from operating activities of $72.0 million, supported b...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.